Harbor Large Correlations

HAVLX Fund

USD 22.96 0.44 1.95%

The current 90-days correlation between Harbor Large Cap and Transamerica Asset Allocation is 0.72 (i.e., Poor diversification). The correlation of Harbor Large is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Harbor Large Correlation With Market

Good diversification

The correlation between Harbor Large Cap and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor Large Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Harbor Large Cap. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Harbor Mutual Fund

0.84	HIISX	Harbor International	Pair Corr
0.79	HILVX	Harbor Large Cap	Pair Corr
0.71	HMCLX	Harbor Mid Cap	Pair Corr
0.72	HMCNX	Harbor Mid Cap	Pair Corr
0.7	HMCRX	Harbor Mid Cap	Pair Corr
0.65	ESCQX	Embark Small Cap	Pair Corr
0.84	HNISX	Harbor International	Pair Corr
1.0	HNLVX	Harbor Large Cap	Pair Corr
0.84	HRISX	Harbor International	Pair Corr
1.0	HRLVX	Harbor Large Cap	Pair Corr
0.84	HAISX	Harbor International	Pair Corr

Moving against Harbor Mutual Fund

0.64	ECSWX	Embark Commodity Strategy	Pair Corr
0.56	HRBDX	Harbor Bond Fund	Pair Corr
0.51	HICSX	Harbor Vertible Secu	Pair Corr
0.51	HRCSX	Harbor Vertible Secu	Pair Corr
0.48	HNCVX	Harbor Vertible Secu	Pair Corr
0.56	HBFRX	Harbor Bond Fund	Pair Corr
0.52	HACBX	Harbor Core Bond	Pair Corr
0.48	HACSX	Harbor Vertible Secu	Pair Corr
0.43	PMPIX	Precious Metals Ultr	Pair Corr
0.43	PMPSX	Precious Metals Ultr	Pair Corr
0.41	VFIAX	Vanguard 500 Index	Pair Corr
0.41	VFINX	Vanguard 500 Index	Pair Corr
0.41	VINIX	Vanguard Institutional	Pair Corr
0.41	VIIIX	Vanguard Institutional	Pair Corr
0.37	VTSMX	Vanguard Total Stock	Pair Corr
0.37	VITSX	Vanguard Total Stock	Pair Corr
0.37	VFFSX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	TAAJX	SCXIX	ARTNX	RNECX	BBISX	FLDFX
TAAJX		0.9	0.91	0.95	0.85	0.92	TAAJX
SCXIX	0.9		0.77	0.82	0.71	0.84	SCXIX
ARTNX	0.91	0.77		0.94	0.97	0.87	ARTNX
RNECX	0.95	0.82	0.94		0.89	0.91	RNECX
BBISX	0.85	0.71	0.97	0.89		0.84	BBISX
FLDFX	0.92	0.84	0.87	0.91	0.84		FLDFX
	TAAJX	SCXIX	ARTNX	RNECX	BBISX	FLDFX

Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor Large Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Harbor Large's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TAAJX	0.26	0.03	0.02	0.57	0.26	(0.30)	0.53	(0.52)	1.85
SCXIX	0.18	0.03	0.04	0.39	0.00	(0.22)	0.42	(0.31)	0.93
ARTNX	0.53	0.07	0.07	(2.18)	0.60	(0.53)	1.22	(0.97)	3.81
RNECX	0.76	0.09	0.07	1.59	0.96	(0.75)	1.42	(1.48)	5.94
BBISX	0.52	0.06	0.06	(31.90)	0.60	(0.57)	1.11	(1.27)	3.29
FLDFX	0.41	0.02	0.02	0.05	0.56	(0.40)	0.89	(0.73)	2.65

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